by Bryce Edwards

19 March 2007

China strengthens private property rights

Although still officially a 'communist' country, private property has finally been legalised in China by the National People's Congress, which voted overwhelmingly for the pro-private property legislation. According to the Guardian, the private sector in fact now accounts for 65% of China's GNP. Both foreign and Chinese companies now pay tax of only 25%.

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China strengthens private property rights

Although still officially a 'communist' country, private property has finally been legalised in China by the National People's Congress, which voted overwhelmingly for the pro-private property legislation. According to the Guardian, the private sector in fact now accounts for 65% of China's GNP. Both foreign and Chinese companies now pay tax of only 25%.